Buying a repossessed housegreenspun.com : LUSENET : Repossession : One Thread
How would i obtain a list of repossessed houses in my local area?
-- Claire Davies (firstname.lastname@example.org), August 03, 2000
You might not know this, Claire, but a recent Court of Appeal judgement would appear to make it unlawful for lenders to artificially depress the price of properties just because they are repossessed. After all, as you will see if you read this web page, repossessions occur on the back of other people's misery, so it is only right and fair that the properties be sold for the full market value to avoid the repossessee being chased for 'mortgage shortfall debt' when they are at their most vulnerable. Of course, should you end up being shown round repossessed properties which quite clearly are being undervalued and undersold, then many people who read this page would love to hear from you with the details! E.
-- Eleanor Scott (email@example.com), August 04, 2000.